What is a Credit Score Report?

One of the first steps in repairing or improving your credit score is to find out what your current credit report looks like. A credit report is a detailed report generated by a credit bureau for a prospective lender. This report includes an individuals debts and the timeliness of their repayment, employment and residence history, any judgements, tax liens, or bankruptcies. Based on this information, a credit score is determined which is a number from 400 for a low score and 900 for a high score. Credit scores are used by lenders to determine if you qualify for a loan or service. The lenders use these scores to estimate the amount of risk they maybe exposed to by providing you with their services. Basically the higher your score the less risk you represent to the lender.

Where can you get a Free Credit Report?

A Central Source has been setup for you to request the free reports. You can contact the Central Source at: www.AnnualCreditReport.com or by calling 1-877-FACTACT. The Central Source makes the reports available to certain parts of the country during certain times of the year.

Also, there are three nationwide consumer credit reporting companies where you can purchase a copy of your credit score report. These are:

Equifax - www.equifax.com
Experian - www.experian.com
TransUnion - www.transunion.com

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